Procter & Gamble plans more job cuts

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NEW YORK — Procter & Gamble Co., owner of Boston-based Gillette, said it plans to cut more jobs and increase share repurchases as it works on its turnaround plan. The news comes as the company holds its annual analyst meeting in Cincinnati and faces pressure to improve its results.

P&G previously announced plans to cut 10 percent of its nonmanufacturing jobs, or 5,700, by June 2013; it plans to continue to reduce non-manufacturing jobs by 2 to 4 percent between 2014 and 2016. It will continue to hire in other areas, however.